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prices. we'll go in focus with steve bor bes and bill and morgan. is it paying off? >> no, it is 18 times that of nuclear energy. ronald reagan was right. thest thing to immortality is a government program. politicians are labeled with hot wind and we label the section gone with the wind. >> we have sending sib sidies in '92, has it been worth it. >> we are early inlet process. we have subsidized oil and coal and gas. we have done them from darn near a century. these don't look so bad. like it or not, the majority of americans believe that global warming is an issue. we need to develop clear energy sources. fossil fuels may be a difficult problem. we are subsidizing thingings. it is cheaper to produce energy from natural gas. it is a subsidies. other than it is natural gas there. it is 63 cents compared to $53. that is not a pay off to me. >> i will have to disagree with rick. last time wind energy had any impact was in the century. we have moved in oil and natural gas. but let's get rid of subsidies and let them sink or swim. wind energy will sink and we'll be better off. it is behathe s
. dagen: thank you very much. we want to bring in steve moore to ask him quickly if there's enough time to get a deal done. he's senior economics writer at the "wall street journal," author of "who is the fairest of them all" and steve now that i introduced you, we're going to have to go to the new york stock exchange to hear wait till the sun shines which the traders sing every time this time of year. i'm going to pose the question to you. apologies if i need to interrupt you. is there enough time to get a deal done? >> yeah, there is. peter is exactly right that the modus operandi and capitol hill and the white house for the last 30 years is every time they are up against the deadline, they are like the high schoolkid who has to finish thesis paper. they wait till the last minute. so dagen, i'm making a prediction that on december 31st, you and i will probably be talking and i think they will be furiously negotiating and i think they probably wiil reach a deal. let me make one other point if i may, let's say it doesn't happen on december 31st, it's going to happen in january. it is no
in 1967, where i met steve schneider who was a student at that time. and, if i could just say a couple words about steve, it's kind of -- it's ironic that i'm getting the steve schneider award because we could not have been more opposite. [laughter] he had the gift of gab, you know, he's so articulate as a student and as a postdoc. so when i -- then i went off to the netherlands where i met my wife, who -- then i came -- who eventually became my wife, but i -- when i came back to the institute for space studies, steve was in a postdoc at the institute. and, as i say, we couldn't have been more opposite. he -- as i was this tactiturn midwest scientist who wanted to do the numbers and do my science and not talk about it, but he would come to my door, he would be in the door of my office and talking to me and, eventually, i would turn around and be working on my desk and he -- somehow, he couldn't take the hint. [laughter] but when anniek who was then my girlfriend, would visit me, then she would see that, well, i really didn't want to talk to steve. so she would talk to him, and that was
writer steve moore also joins the panel. so, steve, this is really an interesting story that i don't think gets enough attention. >> i agree. >> paul: the reforms taking place across the country in a lot of states. who are the stars you're looking at? >> i entirely agreement with your premise, paul. if you look at, talk about the demise of the republicans on the national levels we're not seeing that on the state level. there are 30 republican governors today in america, the republicans actually picked up a governorship in north carolina so that south now is almost entirely republican, whereas just 25 years ago, it was pretty entirely democratic. and it's not just the south. states like-- >> what are they doing with that power, that's the interesting thing. >> so, they have the power and they are actually using it, af got states like kansas, and florida that have been cutting taxes aggressively to promote jobs. you've got a lot of the states in the mountain states that are republican, where they're aggressively promoting pro energy drilling policies to get at the national resources
the heat of the sun in hawaii going to the heat in washington. steve forbes will be coming up later in the hour. shibani: we will tell you what drove the markets today with today's data down load. stocks gaining momentum in the last hour of trading crawling back from triple digit losses down about 150 points following reports that the house will return to washington on sunday, but that late rally wasn't enough to lift stocks into positive territory, with all three major indices closing lower for the fourth day in a row. materials, financials, amongst the day's top worst performing sectors i should say. new home sales surging to strongest level in more than two years. sales jumping 4.4% from october to an annual rate of 377,000, more good signs that that housing sector much needed to improve the rest of the economy is finally getting a boost. and the number of americans filing new applications for unemployment aid falling to its lowest level in nearly four and a half years. initial claims dropping 12,000 to a seasonally adjusted 350,000 the week prior was revised up by a thousand. da
moscow now is steve rosenberg. steve, you said he'd do it, he's done it. >> that's right, david. there's been one question that has dominated political life in moscow the last few days and that is will he or won't he? will president putin sign what is one of the most controversial laws he's been face with. yesterday he indicated he probably would and today he signed it. as you mentioned it has been very controversial because a number of ministers in his own government, including the russian foreign minister have publicly criticized the law and president putin's critics have accused him of playing politics with russian children. >> criticized it on humanitarian grounds. >> yes, absolutely. it's interesting to note that the bill we're talking about, the law we're talking about is wider than simply banning adoptions. it's russia's retaliation for the act that bans russians officials suspected of human rights violations from getting u.s. visa's and freezes their assets. so this bans u.s. officials from coming to russia, u.s. officials who have committed abuses and crimes against russian ci
economic writer steve moore also joins the panel. steve, this is really an interesting story that i don't think gets of attention. the reforms taking place across the country in a>> lot of states. who are the stars you are looking at? >> i entirely agree with your premise, paul. if you talk about the demise of the republicans on the national level, we are not really seeing that on the state level. 30 republican governors today in america. the republicans actually picked up a governorship in north carolina. so the south now is almost entirely republican whereas justen 25 years ago it was pretty entirely democratic. it is not just the south. states like utah and idaho and others. >> what are they doing with that power? that's the interesting thing. >> so they have the power, and they are using it. you have states like kansas and florida that have been cutting taxes aggressively to promote jobs. you have a lot of the states in the mountain states that are republican and are aggressively promoting pro energyer drilling policies to get at the pir natural resources. and the big story you ment
connecting with consumers. >> a branding and advertisingme. steve welcome to the program. >> you were the among the firsto corporate america. what opportunity lie in that bridge. >> well i learned very earlyfroy that there was tremendous affinity amongst young adults and they would gather from different back grounds and graces and rewill i g religionsd music they would all come together. i felt it would be like a very good platform for fortune 500 companies to market their products. >> what greeting did you havewht gap? greeting? well it was tough in the beginning, tom. you are basically trying to get a company of a large organization who was used to marketing a certain way to deal with a shipment. shipment -- shift. a cultural shift. my biggest allies was when these ceo's had teenagers in their household. the teenagers would be list ening to music or partaking in something that the parents didn't ugs and the ugs ug underd an affinity for. it was a lot of corporations that were suffering because they could not get the next generation to adapt and partake in their product offering. >>
and advertisingmedia company. steve welcome to the program. >> you were the among the firstto introduce hip-hop culture to corporate america. what opportunity lie in that bridge. >> well i learned very earlyfrom running a record company that there was tremendous affinity amongst young adults and they would gather from different back grounds and graces and rewill i go religions and around music they would all come together. i felt it would be like a very good platform for fortune 500 companies to market their products. >> what greeting did you havewhen you tried to bridge that gap? greeting? well it was tough in the beginning, tom. you are basically trying to get a company of a large organization who was used to marketing a certain way to deal with a shipment. shipment -- shift. a cultural shift. my biggest allies was when these ceo's had teenagers in their household. the teenagers would be list ening to music or partaking in something that the parents didn't ugs and they ugs ugs understand and they would an affinity for. it was a lot of corporations that were suffering because they could not get the ne
? >> one thing that steve schneider always emphasized to students is that if is worth thinking about the matter for which apply to climate change. coral harbour is one which is an urgent one. but certainly apartheid or civil-rights movement were things that are every bit as urgent where the time skills are much longer and the accuracy takes on how you talk to people. >> i think we can learn a lot from the past. look at the issue of slavery. we were the bad guys than also. it was the foundation of the economy. people were making the same argument at them. it was not so bad. it would destroy the economy if we got rid of it. i think people have a lot to learn. there are many examples we can build on from the past year -- in the past. admitting that we have a problem is the first step. >> slavery -- abolishing slavery did not room economy. -- did not ruin the economy. >> right. >> nobody objects to a medical researcher over what we need to do to save lives. that when a clear researcher says what we have to do to save lives, people get upset. >> one of the things that i tried to stress in
.s. hospital with flu-like symptoms. just arriving back at his family's home in florida. that is where steve harrigan is live in palmetto bay, florida. steve, what a christmas gift for this family. >> reporter: jamie, it was rashable to see here, four or five minutes ago, jon hammar and his father drove up into the garage. hammar senior came out and spoke to the media for a few minutes afterwards. he said this is the greatest christmas he ever had. he looked visibly exhausted. jon hammar was released after several hours of with more paperwork after five months in the mexican prison. father and son drove back with the goal to get here by christmas day. they had to stop off at a hospital in the louisiana. john, jr., dehydrated with stomach flu. they're not sure about his condition. he can barely stand you. he walked inside with his mother and father. his father seems like an excited man right now, jamie. jamie: the mexican government, even with pressure from us to keep him for four months chained with handcuffs to a bed, it has been such an ordeal all along the way for this family. they had a
of the homes named in the report mr. steve alleged that they are not true. child abuse is a hateful abhorrent and disgusting crime. and we must not allow these allegations to go unanswered. i believe the whole house will also be united to send messages of this why would abuse. if you go to the police about what you have been through, those of us in positions with authority and responsibility will not shirk our duty to support it. we must do everything in our power to do everything to help you and everything we can to get to the bottom of these terrible allegations. >> there are three bbc inquiries into what happened to jerry sabo. a c.p.s. inquiry into an hmic into other forces who may have support over sources. we already have other concerns. it should be brought under a single call. these multiple inquiries have no quay to get together, the lessons that needed to be learned. oh, we need to go get the bottom of what is happening in each case. but at the moment, the framework that the government sends out risks being confused. >> 20 people were reported. a judge assumes that with any future c
want to watch it coming up. how you doing? my name is steve. my family's lived in this neighborhood for years. recently, things got so tight we had to go to our local food bank for help. i lost a lot of sleep worrying about what the neighbors might think. that is, until i saw them there, too. how'd i do, steve? a little stiff. you could have done a little better. what? come on. you know, i have an academy award. yeah, but not for playing me. announcer: play a role in ending hunger. visit feedingamerica.org/hunger and find your local food b ban. david: take a look at this quote about romney. quote he wanted to be president less than anyone i've met in my life. he had no desire to run. now that is from his son, tagg romney about his father. he said that governor romney had to be persuaded to run by his wife and tagg. so company, what do you think about this? do you believe it? adam: if tagg wants back in on the inheritance -- [laughter] shibani: what do you think? if that's the case, then everything worked out as it should have in the first place. well, i would beg that his son is pro
? joining me now, senior economics writer or for "the wall street journal" steve moore. steve, thanks for making it in today. >> hi, jamie. we're having a white christmas in chicago. so it is a lot of fun. jamie: i know chicago, burr. the numbers are also pretty chilling for retailers who do what percentage of their business during the holiday season? >> you know, those months of november and december are absolutely crucial, jamie, for the retailers. about 40 to all their business all year is done in those two holiday months. so it's, not very good news that the retail numbers came in, you called them lackluster. and that's probably putting it charitiably. this was the worst year since 2008. it is actually, surprising, jamie, because if you look at some other indicators, consumer confidence had actually bumped up a little bit in the last couple months. we have, i wouldn't read too much into this because other indicators of the economy are looking up right now. jamie: so do you think it's an anomaly that it isn't going up? is it an indication if we go over the fiscal cliff there's conc
iron oar a lot. >> let's get more insight from steve from web bush securities. how much of a nail biter is this for you in terms of fiscal cliff and the markets? >> i think pretty clear at this point that if there's a deal coming, it's gonna be coming very, very soon. i think the markets discounted the fact we are going to get some sort of deal t has held up fairly well here and i think if we don't get a deal, we will see a selloff. i don't know how considerable, but certainly see the 2, 3% decline in the market. >> does it amaze you, steve, that the markets, in your view, still consider a given that we are going to reach a deal? here we are thursday, december 27th. they still haven't issued a 48-hur notice for congress to return to capitol hill and yet you're saying the markets have baked in some sort of deal? >> yeah, i think so. i don't in he isly think the deal happened december 31st. if we pass waite without a deal earthquake the market will think something is going to happen in early january this is the way washington works, they walk right up to the edge of the deal, maybe even p
florida and hours ago after they arrived home in palmetto bay steve harrigan was live there and had a chance to talk to the dad. steve, how is the family doing tonight? >> jamie, we got to see john hammar pull up with his father after this long ordeal. they drove directly into the garage. john hammar is now suffering from some sort of stomach ailment he picked up inside that mexican prison. they actually had to make a stop on the drive home from the border at a louisiana hospital and john hammar's father says his son is so weak he can barely stand despite that, he says, this will be the greatest christmas his family has ever had. >> i got him in the car and i thanked the u.s. consulate guys and we took off. and made a beeline to san pedro island and spent the night there johnny, while i was sleeping johnny got up in the morning and walked to the beach and watched the sun come up. >> must be a really tough time for you right now. tell me what you are feeling. >> no. this is great right now. i'm glad to be talking to you about that it's over with. >> you could just sea the tears in hi
the fiscal cliff. let's get to our senior economic reporter, steve leesman, with his predictions for the economy in 2013. >> reporter: >>> trying to figure out what's going to happen in 2013 depends on one very important development -- whether the u.s. goes over the fiscal cliff in a few days' time, and for how long. if it's avoided, there's considerable upside for the economy. we could see at least one and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment amid the uncertainty. unleashing business spending would add to the growth from the nascent rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unemployment drop below 7%. although it might first rise, more work into the work force who have been discouraged but can't find work. then could it fall. as for the fed, i think the market may be overstating its expectations for assets purchased from the central bank in 2013. at the current pace, the new
senior economics report steve leisman join us with their predictions here. david, start with you. what are you looking at? especially bear in mind we're going to be still feeling the effects of the fiscal cliff and technically we're going over it tonight. does this affect your thoughts of investing in 2013? >> absolutely it does, bill. and it has the last two months. we've seen a marked retreat from u.s.-based investments after u.s. centric holdings, the s&p 500 showing strong leadership in the first ten months of the year. what we've reason seen is now foreign markets picking up the slack. so i would say when we look into 2013, the opportunities most likely exist outside the united states, not in the u.s. >> outside of the united states is a large geographic area. can you narrow it down for us? like asia, europe, emerging frontier, what is it? >> of course, mandy. and that's part of the asset selection you have to do. for us one of the best areas we've seen has been in emerging market debt. it started out many years ago with the bricks and recently we've moved in the last five or six
from the -- >> my friend steve jobs has lots of cash in the bank. >> you started brewing sam adams beer in your kitchen in 1984. tell me how that happened, how -- how did you decide you wanted to brew your own beer in the kitchen? >> well, i come from six generations of brewmasters, so beer was kind of in my history, in my blood. about .06, that was still legal. >> homeless to a millionaire? >> we believed what we did would work, no matter how bad times were. >> in 2020, are we going to be in a much better place? the alternative was not the greatest health care system in the world with no problems. the alternative was a health care system with a lot of problems. >> if you were starting your career today, secretary solis, where would you work? >> i would want to make sure i have the skill sets available and that means soft skills, it means also technical skills. for example, even welding. did you know there's a shortage of people that have that skill available right now? >> these are the cars that run on sunday. this is the championship car that tony stewart drove. >> people start watchi
. >> julie seger watches c-span on verizon. >> on the subject of the fiscal cliff, we spoke to steve forbes this morning and got his take on the subject. host: joining us now is the chairman and editor in chief of forbes media, steve forbes. he will be with us for the next 45 minutes to take your calls. let's start with where we started this morning on "washington journal." have you looked at the fiscal cliff and have you made plans or altered your 2013 spending as a business owner on this issue? guest: the answer is not yet. the big factor will be what happens in health care, which kicks in it in 2013 and 2014. you're kind of immobilize until we get a fix. we are moving ahead on the projects we are doing. people are being cautious. we hope this thing will be successfully resolved and that we do not go into a recession next year. host: how would you like to see this issue played out in washington? what is the best economic solution? guest: the best economic solution is to avoid raising taxes. the best we can hope for is that they kick the can down the road for a couple of months. you are no
countries, particularly in china. >> steve, it also comes at a time when there's been a lot of congressional scrutiny for companies that go around the rules that the u.s. has. what is -- is this behavior illegal? and in what sense is it contra convenienting those laws and do you expect them to come under more precious in the u.s.? >> after i started writing about ze back in march and april, the u.s. commerce department immediately launched an investigation and later the justice department launched an investigation after a -- after it came out that zte allegedly attempted to cover it up and considered destroying the documents i had. whether that happened to huawei remains to be seen. the house intelligence committee issued a report which is highly critical of both of these companies including huawei for failing to be open about its iran business and provide any evidence that they were, in fact, obeying u.s. sanctions. and i don't believe that those investigators had access to the documents i've seen concerning huawei. i can't imagine that this isn't going to cause some problems for huawei goi
in a room with hitler, the two of them would negotiate a deal. he refused steve cutler was a mad and, that hitler didn't care about the german people, that hitler had other fears that drove him. he believed there would be a rational actor. he told the leader of the zionist community in the first president of israel, he said i'm going to go meet with him, work it out. it became so it anti-churchill, anti-british, antiwar effort that the british opened a file on him, which i founded the national national archives in britain called the candidate and a fine. and in the german archives, there are records of his conversation with the german diplomats wanting to get to berlin to negotiate an end to the war and to negotiate a settlement that would prevent war and i would rescue the jewish refugees. again, not for the first time he had gone from being an insider to the outside. he returned to this country in disgrace. he supported roosevelt for reelection in 1940, which is all roosevelt wanted the way roosevelt did not fire as he should have. he retired and got an interview through the battle
, $300,000 for couples. that is a concession for the president. and our colleague steve leisman has been also doing reporting on this. he just spoke to me by phone as i was preparing to go on with a source familiar with the talks who noted a wind energy tax credit is preserved as the president eluded to in his remarks. also depreciation for businesses with spending money on new equipment. all of those things arement wills of the tax deal, but until they get the sequester, the budget elements worked out, the deal's not going to be finished. >> now, the deduction phaseout. this is relatively new. any idea at this point which deductions we're talking about and any timetable for them? >> i have to confess, bill, i don't know how exactly that works. these are provisions that were first initiated in the 1990s as a way of getting more revenue from people at the top without raising their rates. so what you do is you take the same deductions that other people can take and you limit their value over a certain income level. this is in addition to something the president's proposed of making the tax
hope 2013 is a good one. host: let's hear from steve. you are on the democrat's lead. caller: i would like to say merry christmas to you and to all the united states of america. i am actually very pessimistic about a deal being struck. when you look at the republican party and their entire congress who comes out with a statement that this country does not have a revenue problem, it is just an outright lie. if you look at the facts, 32% of our manufacturing base has been gutted and sold to china, india, any foreign country that has cheap labor. the top patriotic american companies are parking their profits and offshore accounts so they do not have to pay a fair share of their taxes. the bottom line is since the late '70s, the wealthiest 2% in this country are making 25 times their wealth that they made a black -- back then. there are only paying 40% more in taxes. this country is doomed if we do not start putting terrace of the imports coming into this country. the republican party is selling you an outright lie. thank you. host: let's show you a facebook posting. the economist and pro
believe it is a lot higher. the whole thing was steve jobs. he treated the apple computer in his garage. when he got successful theme of his company over to china giving chinese people jobs. if steve jobs was born in china he would not even be able to create the apple computer. we just do not do enough for the people of this country. the people who are position to create jobs do not reinvest in the country. i do not think they should get tax breaks. if you want to give these corporate giant tax breaks given to those who want to invest in the country and create jobs. for a lower than the american businessmen. guest: i understand your frustration. part of it is the corporate tax .ode clearly needs to fix it a lot talk about fixing a and a revenue neutral way. it does not help lowering future deficits any easier. there are some things need to change. in general we need to realize that if we set our country on the bike path making the right investments in -- the right path making investments in education and making sure we do not have the necessary programs that can help us do that growth,
in a decade. some are in it for the first time like steve jobs jon stewart, and barack obama and plenty more. we spoke with the men responsible for collecting the world's most memorable lines. >> ask not -- >> they range from the epic -- >> what your country can do for you, ask what you can do for your country. >> to the outrageous. >> i love the smell of napalm in the morning. >> some are better sung. ♪ for only love can conquer ♪ >> others can hardly be read. they are the phrases that define our world, all found side by side in one place, "bartlett's familiar quotations." if you want a snapshot of who we are and why, this is where to look. >> always be closing. >> the collection of quotes was first published by john bartlett in 1855 as a way to keep notable passages all in one place. it was then 258 pages long. >> obviously, the original edition was dominated by the bible, by shakespeare. that is what has expanded tremendously. >> the complete works of elizabeth jordan. >> geoffrey o'brien is the editor of the just-released 18th edition of bartlett's, now a massive
christine romans and ali velshi. >> number ten, apple, the first year without steve jobs and the company is trying to prove under a new ceo that it can still invent things we didn't even know we would wee needed that we would buy faster than anything's been sold in personal technology before. >>> number nine, the u.s. stock market. despite all those worries about the fiscal cliff and maybe slower growth in the u.s. economy, the stock market has had a great year. too bad you missed out. smart money's been on the market. the rest of us have been worried about the fiscal cliff. >> number eight, facebook's ipo. hundreds of millions of people like facebook, but investors did not on its first day as a public company. trading glitches at the nasdaq and questions about the company's ability to make money on mobile users pummeled the stock, which has yet to climb its way back to its ipo price. >> number seven, mother meyer. the new ceo of yahoo! who announced she was just going to take a two-week maternity leave as she tried to turn this company around. 37 years old, it looks like a mother's touc
for the economy in the new year. here is steve liesman with a preview of what he expects in 2013. >> trying to figure out what's going to happen in 2013 depends on one very important development. whether the u.s. goes over the fiscal cliff in a few days' time. and, for how long. if it's avoided, there's considerable upside for the economy. we could see at least one, and maybe two quarters of growth above 3%. the kind of growth that would put people back to work and lower the unemployment rate. why? because business has been holding back investment under the uncertainty, unleashing business spending would add to the growth from the rebound in housing and from the consumer who has hung in there despite tough times. in fact, we could see unemployment drop below 7%. although it might first rise, and people come into the workforce will be discouraged but then it could start to fall. as for the fed i think the market may be overstating its expectation for asset purchases from the central bank in 2013. at the current pace the new round of quantitative easing will add $1 trillion to the balance she
. and then, you know, i don't think we've run this bite enough. >> tim geithner told steve liesman. >> i have it ready. >> that he is we should show it multiple times. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250, andrew. they love that. what does oh, absolutely mean, bob? >> maybe it means his favorite movie was "rebel without a cause." >> go the. >> i guess it's letting the other side know you're willing to go eyeball to eyeball with something that is terrible. >> i see both sides pretending to say, yeah, we're doing all we can, but it's almost just like this -- like boehner just said, hey, you guys, you happen, in the democratic-controlled senate, you put a bill together. i'd love to consider it. he can't get his guys to consider a democratic bill. >> as long as they feel like they ca
will be joined by steve forbes. later, discussion on background checks, how they work, who gets them, and when they are required. our guest is matt bennett. "washington journal," live at 7:00 a.m. eastern on c-span. a cornell university law professor has written books on increasing stock prices. she spoke about what she described as the corporate world in the effort to maximize profits in the short term, but but greater the long-term value of any company. [applause] >> good evening, everyone, and welcome. professor lynn stout is a distinguished professor at the cornell university law school. our work focuses on the intersection of law, business, and morality -- her work focuses on the intersection of law, business, and morality. she has worked with many organizations around the world, including the clinton global initiative. in 2012, she was named tom on the economy -- top on the economy. her new book is the shareholder yth.es met please welcome professor lynn stout. [applause] >> thank you, charles, for that kind introduction. i want to start by saying what an honor it is for me to speak in f
. up next is steve forbes. >> later, more members -- interviews with retiring members of congress. retiring nebraska senator bill nelson -- he served two terms and was part of the so-called gang of 14 to negotiate a compromise over judicial negotiations. 40 minutes later, interviews with two retiring house members. first, california republican jerry lewis, who chaired the appropriations committee. later, a conversation with california democrat lynn woolsey. >> i enjoy that it is straight forward. it is comprehensive. it has what is happening without a pundit interjecting. that is what i really appreciate about c-span. is a great resource for anyone looking to become more familiar with how government works. >> julie watches c-span on bryson. c-span -- created by america's cable companies in 1979. brought you as a public service by your television provider. >> a look at the u.s. capitol here, where work continues in an effort to avoid the so-called fiscal clift of tax hikes and spending cuts that will take effect jan. 1. earlier, the house dabbled in for a pro forma session with no
. as the deadline for the fiscal cliff does loom, what does it peen if your money if we do not get a deal? steve liesman has more on that. >> we talk about a lot of these big numbers that are out there and we don't talk about what it means to individuals. so let me see if i can break down the big numbers into something that might mean something to individual people here. $620 billion, that's the number that's the total revenue increases and spending cuts. about $130 billion of the automatic cuts that john harwood was just talking about, talking about trying to ally for a little while. 1920. that's if you break it down by every man, woman and child in america. that's the per capita fiscal cliff effect. but that effects a lot of people differently here. $26.2 million. that's the number of americans that will be caught by the amt, the alter naf tax system, unless congress comes up with a patch and that's part of the whole fiscal cliff effect. come on over here, we'll show you more. 2.1 million, that's the number of long term unemployed americans who will lose the extended benefits again if there's
a moment. we also have pimco's mow hammel el-erian. >>> steve sedgwick is standing by in london right now. how are things standing by there? >> it's a very quiet session as we saw last week on the u.s. and the european incidentsies. despite the fact that the vix in the united states and the v-stocks and the various volatility measures on this side of the atlantic remain elevated. despite that, we're not seeing a lot of oscillation on the back of, as you said, the fiscal cliff and concerns that we may fall off. does that mean that people are getting complacent? they think even though we might not get a deal in the next 24 hours, we will get a deal fairly imminently. in the meantime, though, this is what we've got in terms of the major european indices. that will open and the germans will come to that in a few minutes' time it has been up year-to-date around about 6% and that makes the ftse 100 a real lagger compared with some of its european peers. a laggard, as well, compared to the cac 40. we have no fiscal cliff deal as of yet and it is up 1%. that means the cac 40, the french equity ma
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